Tecnoglass’ $35 Million Follow-On Offering of Ordinary Shares


Maples and Calder, Philippi Prietocarrizosa Ferrero DU & Uría, Latham & Watkins and Gómez-Pinzón Abogados advised on the deal

Tecnoglass Inc. (NASDAQ: TGLS), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries, has commenced an underwritten follow-on public offering of 8,000,000 ordinary shares. In addition, Tecnoglass has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 ordinary shares at the public offering price, less the underwriting discount. All of the ordinary shares to be sold in the proposed offering are to be offered by Tecnoglass. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Tecnoglass intends to use the net proceeds of this offering for investments in growth capital expenditures (including to purchase new equipment), its Saint-Gobain joint venture and for working capital and other general corporate purposes.

Baird and Raymond James are serving as lead joint book-running managers for the proposed offering. B. Riley FBR, Inc. is serving as an additional joint book-running manager for the proposed offering with D.A. Davidson & Co. and Dougherty & Company acting as co-managers.

Maples and Calder advised Tecnoglass Inc. with Matthew Gardner, Michael Johns and Michael Lockwood.

Philippi Prietocarrizosa Ferrero DU & Uría advises Tecnoglass Inc. with Hernando Padilla, Ana Estrada, Ximena González, María Daniela Hernández and Pedro Arango.

Latham & Watkins advised Robert W. Baird & Co. and Raymond James & Associates Inc. with Marc Jaffe, Ian Schuman, Erika L. Weinberg, Dylan R. Conn, N. Danny Shulman and Bharath Mohan.

Gómez-Pinzón advised Robert W. Baird & Co. and Raymond James & Associates Inc. with Ricardo Fandiño De La Calle, Cristina Silva Hoyos and Daniel Flórez Linero.

Involved fees earner: Ricardo Fandiño De La Calle – Gómez-Pinzón; Daniel Flórez Linero – Gómez-Pinzón; María Daniela Hernández – Gómez-Pinzón; Cristina Silva Hoyos – Gómez-Pinzón; Dylan Conn – Latham & Watkins; Marc Jaffe – Latham & Watkins; Bharath Mohan – Latham & Watkins; Ian Schuman – Latham & Watkins; Erika Weinberg – Latham & Watkins; Matthew Gardner – Maples and Calder LLP; Michael Johns – Maples and Calder LLP; Michael Lockwood – Maples and Calder LLP; Pedro Arango – Philippi Prietocarrizosa Ferrero DU & Uría; Ana Estrada – Philippi Prietocarrizosa Ferrero DU & Uría; Ximena González Cardozo – Philippi Prietocarrizosa Ferrero DU & Uría; Hernando Padilla – Philippi Prietocarrizosa Ferrero DU & Uría;

Law Firms: Gómez-Pinzón; Latham & Watkins; Maples and Calder LLP; Philippi Prietocarrizosa Ferrero DU & Uría;

Clients: Raymond James Financial, Inc.; Robert W. Baird & Co.; Tecnoglass Inc.;

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Author: Ambrogio Visconti.